After a couple of years of dramatic decreases in premium pricing in the insurance market, the industry may be reaching a point of stabilization, according to a broker with Marsh.
During a conference call today, sponsored by New York-based Marsh & McLennan Companies, the parent of insurance broker Marsh and reinsurance broker Guy Carpenter, Robert F. Howe, global leader of Marsh Property operations said that after a "couple years of dramatic decreases" there are signs of stabilization in pricing in commercial insurance.
He said premiums are reaching their "technical rating," that he explained is the point at which underwriters feel they cannot go below their base line on a risk. Some underwriters are beginning to pull away from risks where they feel the pricing is no longer adequate, he said.
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